On Friday, February 5, Fitch Ratings revised Estonia's
outlook to Stable from Negative and affirmed the country's rating at
'BBB+'.
"The agency's assessment reflects
the growing understanding that Estonia's economy has rapidly adjusted and rather
successfully coped with the crisis," said Märten Ross, Deputy Governor of Eesti Pank.
"In Fitch's opinion, the likelihood of joining the euro area has
been increased by the flexibility of the economy and the improved budgetary position,"
he added.
According to Ross, the analysis confirms that in order to ensure
Estonia's credibility, the intention to bring the budget into balance and then surplus expressed
in the national budget strategy deserves every support.
The rating agency highlighted
that Estonia's ratings continue to be supported by strong constitutional institutions,
the flexibility of the economy and unblemished debt-servicing record.
The translation of the Fitch
press release is published on the
web page of Eesti Pank.
